2992 High Forest LnCincinnati, OH 45223

This exceptional 282-unit apartment building, situated on 26.16 acres in Cincinnati, OH, presents a compelling investment opportunity. The property comprises six, three-story buildings totaling 202,478 square feet of net rentable space, constructed in 1973. The unit mix includes 120 one-bedroom and 162 one-bedroom/one-and-a-half-bathroom apartments. Current ownership has undertaken extensive renovations over the past five years, encompassing both interior unit upgrades and common area improvements, addressing numerous deferred maintenance items. "Gold" units boast complete renovations, including new dishwashers, countertops, flooring, lighting, tub surrounds, mirrors, and painted or replaced cabinets. Non-"Gold" units have received updates to lighting, fixtures, and LVP flooring. Despite the renovations, "Gold" units are currently under-rented, presenting immediate upside potential. The property enjoys a 95% occupancy rate and a T3 vacancy of only 2%. Currently owner-managed from out-of-state, the property offers significant potential for enhanced operational efficiency through professional management. The location, less than 15 minutes from Downtown Cincinnati, the University of Cincinnati, and four hospital campuses, is highly desirable. The property's ample space allows for the addition of amenities such as a gated community (a highly sought-after feature by the tenant base) and expansions around the existing clubhouse. Cincinnati's robust rental market, with year-over-year growth outpacing national averages, further strengthens this investment's appeal. Specifically, the Mount Airy submarket saw a 5.5% year-over-year rental growth, with two-bedroom units experiencing even higher growth at 6.7%. This combination of strong market fundamentals, trailing financials, and significant upside potential makes this a truly unique opportunity in the heart of Cincinnati. The address is 2992 High Forest Ln, Cincinnati, OH 45223.